Trading ended with the market eking out a modest gain on Tuesday after trading 29 percent fewer shares than on Monday, at the close of the US dollar market of the Jamaica Stock Exchange.
Trading ended with four securities changing hands, down from five on Monday and ended with the prices of three rising, none declining and one remaining unchanged.
The JSE USD Equity Index rose 0.70 points to close at 200.56. The PE Ratio averaged13.5 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading ended with 351,011 shares for US$4,986, down from 495,631 units at US$31,968 on Monday.
Trading averaged 87,753 units at US$1,246, versus 99,126 shares at US$6,394 on Monday. Trading averaged 71,289 units for the month to date at US$13,623 in contrast to 70,717 units at US$14,054 on Monday. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows two stocks ended with bids higher than their last selling prices and none with lower offers.
At the close, Proven Investments rose 0.01 of a cent to 25 US cents, with 1,051 shares changing hands, Sterling Investments settled at 1.98 US cents with an exchange of 247 units, Sygnus Credit Investments carved out a gain of 0.78 cents in ending at 14.8 US cents and trading 12,266 shares and Transjamaican Highway increased 0.02 of one cent to close at 0.88 US cents, with 337,447 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Stocks eke out gains on JSE USD market
Slippage trading the JSE USD market
Trading on Monday ended with the market declining after trading 76 percent fewer shares than on Friday, on the US dollar market of the Jamaica Stock Exchange, resulting in more stocks falling than rising.
Similar to Friday, trading ended on Monday, with five securities and the price of one rising, two declining and two remaining unchanged.
The JSE USD Equity Index fell 3.42 points to 199.86. The average PE Ratio ended at 13.4 based on ICInsider.com’s forecast of 2020-21 earnings.
The market closed with an exchange of 495,631 shares, for US$31,968 compared to 282,032 units at US$65,501 on Friday.
Trading averaged 99,126 units at US$6,394, in contrast to 56,406 shares at US$13,100 on Friday. Trading for the month to date averages 70,717 units at US$14,054 in contrast to 69,425 units at US$14,402 on Friday. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and none with lower offers.
At the close, Margaritaville rose 0.1 of a cent to end at 10 US cents in exchanging 950 shares, Proven Investments closed at 24.99 US cents with an exchange of 110,963 units, Sterling Investments ended at 1.98 US cents in trading 100 units. Sygnus Credit Investments lost 0.48 of a cent to end at 14.02 US cents with an exchange of 6,271 shares and Transjamaican Highway shed 0.1 of a cent to end at 0.86 US cents, with 377,347 stocks clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Fosrich APO coming
FosRich, a distributor of lighting, electrical and solar energy products and a Junior Market listed company, seems set to go back to the capital market to raise funds for expansion and reduce loan funding.
“We are currently examining a possible additional Public Offer (APO) in 2021,” managing director Cecil Foster stated in response to ICInsider.com enquiry as to why would they not take advantage of favourable market conditions currently to reduce the high debt load.
Fosrich borrowed debt totalling $1.6 billion is more than twice the Shareholders’ equity of $869 million at the end of December last year. The company has lent nearly $400 million to a related party that should be repaid this year, with the proceeds expected to reduce the debt load. Even after that, the company will still be overleveraged and will need approximately $500 million in new equity to bring its financing to accepted levels. Any new issue seems unlikely until the last quarter of 2021, with the company annual general meeting that will likely be held in August, as was the case in 2020 that would most likely approve such an issue. Additionally, with the stock now price over $5, a stock split would likely be considered to be approved at the 2021 AGM.
The company had a successful 2020 financial year with increased profits from rising sales and the stock price rising 31 percent so far in 2021.
Stocks lose ground on JSE USD market
Trading on Friday ended with the market declining after trading 45 percent fewer shares than on Thursday, on the US dollar market of the Jamaica Stock Exchange, resulting in more stocks falling than rising.
Trading ended with five securities changing hands, compared to seven on Thursday and ended with the prices of one stock rising, three declining and one remaining unchanged.
The JSE USD Equity Index lost 2 points to end at 203.28. The average PE Ratio ends at 13.7 based on ICInsider.com’s forecast of 2020-21 earnings.
Trading closed with an exchange of 282,032 shares, for US$65,501 compared to 515,824 units at US$142,671 on Thursday.
Trading averaged 56,406 units at US$13,100, versus 73,689 shares at US$20,382 on Thursday. Trading averaged 69,425 units for the month to date at US$14,402 in contrast to 70,045 units at US$14,464 on the prior trading day. February ended with an average of 69,547 units for US$9,223.
Investor’s Choice bid-offer indicator shows one stock ended with bids higher than their last selling prices and none with lower offers.
At the close, First Rock Capital fell 0.4 of a cent to 8.5 US cents trading 11,123 shares, Proven Investments dipped 0.11 of a cent to 24.99 US cents, with 247,644 stock units clearing the market, Sterling Investments lost 0.01 of a cent in ending at 1.98 US cents in an exchange of 308 stock units and Sygnus Credit Investments advanced 0.3 of one cent to 14.5 US cents with 22,859 stocks changing hands.
In the preference segment, Equityline Mortgage Investment preference share remained at US$2 in 98 stocks switching ownership.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.